Real Estate Investing

Is real estate investing only for the wealthy? Can you actually buy with no money down? Do you have to know the “right” people? Let’s answer those questions by looking at some of the myths of real estate.

Real Estate Investing Myths

1. Real estate investing is for the wealthy. Money helps, but my first real estate investment was a $3,500 lot – which I sold for a profit two weeks after I bought it. Small deals, partners, low-down deals, or just putting aside $7 per day for a couple years until you have enough money for a downpayment – these are some of the ways to start with a little and invest in real estate.

2. “0 down” isn’t possible. I sold a rental property for $1,000 down because I trusted the buyer to make the payments, and I wanted the 9% interest and higher price. He could have gotten a cash-advance on a credit card for another $30 per month and made it a “0-down” deal. “No money down” means none of YOUR money down, and yes, it happens.

3. “0 down” is the best way. If you don’t invest some of your own money, you’ll have higher payments. You’ll also spend more time finding suitable properties, and pay more for them (generally cooperative sellers want more for their cooperation – I do). There are 0-down deals out there – they just aren’t always worth doing.

4. You need experience. Experience helps, but you get it by investing. Start with common sense, ask how you can lose money, be willing to learn the numbers, and you can start where you are.

5. Some investors have a “knack” for making money. Sort of. More accurately, some just took the time and risk to learn the market and continue their education.

6. You need to know the “right” people. It helps, so start the process. Talk to investors, real estate agents, landlords, etc.

7. You have to be great negotiator. If you learn to run the numbers and make the offers based on them, you can be the worst negotiator and still do okay.

8. You need insider knowledge. Understand one deal, and you are on your way. Read and read more, but the best “insider” knowledge comes from experience.

9. Fixer-uppers are safe. People have the idea that doing the work themselves is the safest way to assure a profit. Not true. Mis-planned “fix and flips” have bankrupted even experienced investors. Most poorly purchased rental properties will only eat a little money every month.

10. The key is lowball offers. The numbers have to work, and you need a plan. You can offer MORE than the market price and make money investing in real estate, if you understand creative financing – and how to do the math.

Always practice due diligence and seek out mentors. Good Luck in your real estate investing career.

Texas

Texas is a very big state, nearly 900 miles from east to west, with dramatic diverse landscapes and over 500 cities to explore. This remarkable state is organized into seven regions, each with its own Texan personality. Texas real estate comprises of Texas homesites, farm and ranch properties, riverfront properties on the Colorado River, fine custom homes and commercial properties in different counties inside Texas. Texas is an active area when it comes to real estate.

Texas Realtors

People who are involved in active buying and selling of real estate properties to earn commission are realtors or real estate agents. There are many real estate agents working inside Texas to help people in buying, selling or relocating a home.

A good agent will first listen to your needs, desires, and will help you find a dream home. Customer satisfaction will be their first priority. They will also help the customer to sell their home for top dollar and in a timely manner. Again, if someone is moving to Texas, the agent will assist him/her in collecting the information; they need and make their transition as smooth as possible.

5 Reasons To Use A Realtor

1. Help you find the right community
2. Negotiate on your behalf
3. Schedule inspections, closings, and document review
4. Ensure all deadlines are met
5. Provide consultation services during transaction

Unless specifically contracted, all real estate agents in Texas are sellers representatives, since the seller pays the commission and the selling agent is acting on behalf of the listing broker. Many present themselves as buyers agent, but there is no legal relationship unless a specific contract is signed between buyer and the real estate agent. There are many licensed real estate agents in Texas. If you want to purchase a home and wish to use an agent, then you can hire an agent to represent your interests. That makes him a buyers agent

Texas Real Estate

In Texas, second home sales have been increasing over the last few years with more people becoming second homeowners. Over 40 percent of homes sold were second homes. Healthy rise in home prices have contributed to this development in the second home market. With the help of real estate agent, who have a proper knowledge of these kinds of properties, you can relax a bit. Whether you are a buyer or a seller, the professional real estate agent you select, always plays an important role. Therefore, a real estate agent is one of the most useful resources for a real estate investor.